It's a tough climb to the c-suite — especially for women.
Women make up only 4.6% of CEOs in S&P 500 companies, according to 2015 numbers from advocacy group Catalyst. Women accounted for only 3.3% of CEOs in the top 100 companies in Silicon Valley in 2014, according to numbers from Fenwick.
It's not as though these companies have a small pool of women to choose from. In fact, women make up 45% of the labor force in S&P 500 companies. But that percentage dwindles on each step of the corporate ladder, meaning that there are fewer female candidates in the pipeline when it comes time to name a new manager, board member, or executive.
And that's ultimately bad business for companies.